Freddie and Fannie

Again, I listen to to much NPR. Today I learned that the government had to take over Fannie & Freddie, because if they didn't and they went bankrupt, it would be Armageddon. At least that's what funny accent guy said. America guys said it wouldn't be THAT bad, it would have just sent the WORLD into another Great Depression, or worse. Why? Because our economy is based on credit. So many banks have Freddy & Fannie bonds that if they had bankrupted and those bonds where just scrap paper, the banks would stop lending. To everybody, not just those of us with shit for credit. This would apparently stop the world from running. You can read the whole story HERE.

A fall in the economy would probably be a blessing for the environment. No point in drilling for oil if no one can afford gas right? Bicycles are cheaper than a car. Vegetables you grow are cheaper than ones bought at the store. Famine will cut back the world population.

See, the republicans are always trying to destroy the environment.

Peace.